Market Insights Snapshot
The MXR brand has been performing quite impressively in the Massachusetts market, particularly in the Beverage and Tincture & Sublingual categories. In the Beverage category, MXR moved up from a rank of 27 in July 2023 to 18 by October 2023, indicating a steady upward trend in their market position. This is an encouraging sign of growth for the brand, showing that they are increasingly becoming a preferred choice among cannabis beverage consumers in Massachusetts. However, it's worth noting that they were not within the top 20 brands in July, which indicates there's still room for improvement.
On the other hand, MXR's performance in the Tincture & Sublingual category presents a slightly different picture. They managed to secure a spot within the top 10 brands consistently from July to October 2023, with their ranking fluctuating between 10 and 8. However, there was a slight dip in their rank in October, moving from 8 to 9. While this isn't a significant drop, it's a subtle shift that could indicate increased competition in this category. Despite this, maintaining a top ten position over several months is still a notable achievement for MXR in this category within the Massachusetts market.
In the Massachusetts Beverage category, MXR has shown a promising upward trend, moving from not being in the top 20 in July 2023 to ranking 18th by October 2023. This indicates a significant increase in sales, outpacing some of its competitors. For instance, Zenith and Green Monke both saw a decrease in rank over the same period, with Zenith dropping from 15th to 19th and Green Monke from 18th to 20th. Another competitor, Drink Loud, did not appear in the top 20 until September 2023 but managed to surpass MXR by October. Canna Drinks, despite a steady decline from 13th to 16th, remained ahead of MXR throughout. These shifts in rank suggest a dynamic and competitive market, with MXR making significant strides in a short period.
In October 2023, the top-performing product from MXR was the CBD/THC 4:1 Harmonize Tincture with 98 units sold, making a significant jump from its 5th place rank in September. Following closely in second place was the Stir It Up Raspberry Tincture, which held its rank from the previous month with 87 units sold. The CBD/THC 1:1 Stir It Up Plasmic Cooler Tincture dropped to the third position from its second place in September, selling 70 units. The CBD/THC 1:1 Stir It Up Plasmic Cooler Stir It Up Drink Infuser also dropped in rank to fourth place, selling 58 units. Lastly, the THC/CBN 2:1 Sleep Tincture, which had consistently held the top spot from July to September, experienced a significant drop to fifth place with 42 units sold in October.